Suppose a policy change will generate $180,000 of benefits for low-income families and $150,000 of costs for high-income and middle-class families. This change can best be described as
A. equitable.
B. inefficient.
C. Pareto efficient.
D. potentially efficient.
Answer: D
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When housing prices decrease, household wealth ________, and consumption ________.
A. increases; increases B. decreases; decreases C. increases; decreases D. decreases; increases
In the figure above, how much do the consumers pay in total for the quantity of pizza they buy per day?
A) $100,000 B) $150,000 C) $125,000 D) $50,000 E) None of the above answers is correct.
Total surplus in a market does not change when the government imposes a tax on that market because the loss of consumer surplus and producer surplus is equal to the gain of government revenue
a. True b. False Indicate whether the statement is true or false
How can inventions such as cellular phones affect the government's antitrust policies?
(A) The technology causes the need for stricter regulation than before. (B) Government rules can allow higher charges than competition. (C) People using the technology do not want antitrust regulations. (D) They can mean that the need for regulation no longer exists.